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Insurance Companies Act

Version of section 589 from 2007-04-20 to 2024-11-26:


Marginal note:No new foreign composite companies

 The Superintendent may not make or vary an order made under subsection 574(1) in respect of a foreign company if the foreign company would as a result be permitted to insure both risks falling within the class of life insurance and risks falling within any other class of insurance other than accident and sickness insurance, credit protection insurance and other approved products insurance.

  • 1991, c. 47, s. 589
  • 1997, c. 15, s. 304
  • 2007, c. 6, s. 272

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